AIG Chief Threatens to Quit, Again
AIG's Chief Executive Officer Robert Benmosche threatened to quit at a board meeting last week, saying it was too difficult to do his job with so much government oversight, the Wall Street Journal reports. He is particularly miffed at the compensation controls placed on the giant insurance company by Kenneth Feinberg, Obama's pay czar.
The government owns 80 percent of AIG after bailing it out last year. Benmosche and Board members met with Feinberg last week and reportedly discussed the difficulties in keeping talented employees while adhering to compensation regulations.
"Bob feels he is in an impossible situation," a person close to the matter told the Wall Street Journal.
AIG owes American taxpayers about $90 billion. The company has showed signs of improvement recently, posting profits in the last two quarters.
Read more at The Wall Street Journal.